The European Investment Fund (EIF) in collaboration with the Danish Export Credit Agency EIFO has signed the first agreement under the European Union’s export credit guarantee program to support businesses in Ukraine. This initiative aims to strengthen economic cooperation between Ukraine and EU countries, as well as facilitate the integration of the Ukrainian economy into the common European space.
This is reported by Finway
Support for Danish Companies and Export Development
The signed agreement provides guarantees of up to €20 million, allowing around forty Danish companies to expand their operations in the Ukrainian market. This is the first of approximately thirteen agreements planned to be signed in various EU member states. A total of about €300 million has been allocated for the program to support small and medium-sized enterprises, as well as mid-cap companies collaborating with Ukraine.
Reducing Risks for European Businesses
“The export credit guarantee mechanism implemented by the European Investment Bank group and the European Commission helps reduce risks for European companies. Through national export credit agencies, this tool provides businesses with the confidence to work with Ukrainian partners and develop trade,” said Minister of Economy Yulia Svyrydenko.
Within this program, European companies will receive additional financial instruments for safely conducting business with Ukrainian enterprises. This step is expected to stimulate export growth and further integrate Ukrainian businesses into the EU market.